Los Angeles — Beverly Hills, California-based Bolour Associates has purchased 0.69 acres, located at 163-179 S. Vermont St. in Los Angeles’ Koreatown, for $7.4 million. Simultaneous to the acquisition, Bolour signed long-term ground lease with an undisclosed quick-serve restaurant for the site. The site’s new tenant signed a 15-year, triple-net lease and is expected to complete tenant improvements on a standalone 3,209-square-foot building, located on the property, before opening for business. Alex Sachs and Brian Peterson of WESTMAC Commercial Brokerage Co. represented the buyer and undisclosed seller. Michael Pakravan of …
Allentown, Pa. — City Center Investment Corp. plans to open Downtown Allentown Market, a $4 million project in Allentown. The 12,000-square-foot retail space will be located within the City Center Allentown mixed-use development. The market will feature nine food and drink merchants, indoor and outdoor seating and flexible space for programming and pop-up shops. Brick-and-mortar tenants include sushi/poke concept Shinsen; Mediterranean restaurant Zahra; ice creamery Batch Microcreamery; Little Miss Korea; Doughnut Love, Licensed to Grill @ The Market; and Tavola pizzeria. The food hall will also house a distillery. City …
Gainesville, Fla. — Former University of Florida football coach Steve Spurrier is seeking a partner for a new restaurant in Celebration Pointe in Gainesville. The new restaurant will be called “Spurrier’s” and is expected to open in 2020. The selected partner will have a $1 million build-out budget and the ability to influence the final menu and décor, as well a salary and/or equity in the restaurant. The partner will be named later this year. Celebration Pointe is a 160-acre mixed-use development that upon completion will span more than 1 …
Jacksonville, Fla. — The Ferber Co. has entered into a contract to acquire Brooklyn Place, a vacant building that sits on 1.5 acres in downtown Jacksonville. The initial tenant lineup at the 11,500-square-foot site includes Panera Bread and Bento Asian Kitchen + Sushi. There is a 1,520-square-foot space available. Ferber expects the land acquisition to close this summer and will begin construction immediately after. Completion is scheduled for summer 2020. A sales price and seller for the land acquisition were not disclosed.
Dallas — Eataly, a concept that offers Italian-inspired food and drink in a marketplace setting, has signed a lease to open a 48,000-square-foot space at NorthPark Center, an enclosed shopping mall in Dallas. This location will be the company’s first in Texas. Scott Muller, Katie Rambie, Kiley Pipkin, Zach Ballenger, Justin Rasansky, Sydney Muller and Jack Gosnell of CBRE represented Eataly in the lease negotiations.
Manhattan Beach, Calif. — Two new restaurants are joining the tenant roster at Manhattan Village, a 573,000-square-foot indoor/outdoor mixed-use dining and retail property located in Manhattan Beach. The restaurants are: • dan by ROC (Republic of China), a new concept from ROC that offers home-cooked Chinese food, specializing in dumplings and noodles. Situated within the Village Shops, the 3,500-square-foot location is scheduled to open in fall 2020. • edo Little Bites, which is the newest creation of Chef Edoardo Baldi, creator of e.baldi. Located in Village Shops, the 642-square-foot eatery …
Algonquin, Ill. — SVN | Chicago Commercial has arranged the sale of a 7,549-square-foot restaurant property in Algonquin for $1.1 million. The freestanding building is located at 2561 County Line Road. Tim Rasmussen and Olivia Czyzynski of SVN brokered the transaction. The buyer, an operator of Mexican restaurants, plans to open a casual Mexican concept, according to Rasmussen.
Chicago — Brown Bag Seafood Co. will open its newest location in Willis Tower in Chicago. The fast-casual seafood concept will be located in Catalog, the 300,000-square-foot dining and retail area at the base of the office tower, currently under construction. Willis Tower is undergoing a $500 million renovation project, the biggest transformation in the building’s 46-year history. The first phase is expected to be open to the public in late 2019. Brown Bag Seafood Co. joins Convene, Urbanspace, Shake Shack, Sweetgreen, Starbucks Coffee and Market Creations as a tenant. …
Scottsdale, Ariz. — Capital One is scheduled to open its first Capital One Café location in Arizona at Macerich’s Scottsdale Fashion Square in early 2020. As the first of its kind in Arizona, Capital One Café integrates digital tools and in-person interactions focused on customer needs. Open to both Capital One account holders and non-account holders, the café will offer customers a place to get help with their accounts, learn about new digital and financial tools, free Wi-Fi, and coffee and pastries made by a local baker. The 5,792-square-foot Capital …
Logan, Utah — Four Corners Property Trust (FCPT) has purchased three restaurant outparcel properties located adjacent to a mall in Logan, Utah. The aggregate acquisition price was $4.9 million. The name of the seller was not disclosed. The properties are occupied by Texas Roadhouse, Olive Garden and Arby’s, and each property is leased to corporate operators under triple-net leases with approximately seven years of weighted average term remaining.